A quick refresher on 401(k) plans, a cornerstone for many of my clients’ retirement strategies. These employer-sponsored accounts allow you to make pre-tax contributions that grow tax-deferred—a powerful way to build wealth in a disciplined, coordinated manner. For 2026, the contribution limit rises to $24,500, and those over 50 can make additional catch-up contributions, which can make a meaningful difference for late starters or those accelerating their savings. Keep in mind: early withdrawals come with penalties, and traditional 401(k)s require minimum distributions starting at age 73. Navigating these nuances is essential, especially for high-net-worth families and business owners who want to maximize every lever in their financial toolkit.
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